Nifty near 19,800 level; Oil & gas shares rally for 3rd day

The key equity benchmarks traded near the flat line in mid-afternoon trade. The Nifty traded near 19,800 level. Oil & gas shares extended gains for third consecutive trading session. Trading was volatile due to expiry of weekly index options on the NSE.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 18.91 points or 0.03% to 66,042.15. The Nifty 50 index lost 3.60 points or 0.02% to 19,808.25.

The broader market outperformed headline indices. The S&P BSE Mid-Cap index rose 0.20% while the S&P BSE Small-Cap index gained 0.51%.

The market breadth was positive. On the BSE, 2,066 shares rose and 1,581 shares fell. A total of 158 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index rose 0.47% to 8144.35. The index advanced 0.89% in three trading session.

Hindustan Petroleum Corporation (up 2.83%), Castrol India (up 2.23%), Gujarat State Petronet (up 0.93%), Bharat Petroleum Corporation (up 0.75%) and Indian Oil Corporation (up 0.74%) Gujarat Gas (up 0.66%), GAIL (India) (up 0.65%), Reliance Industries (up 0.43%), Indraprastha Gas (up 0.22%) advanced.

On the other hand, Aegis Logistics (down 1.44%), Oil India (down 1.22%) and Oil & Natural Gas Corpn (down 0.26%) declined.

Numbers to Watch:

The yield on India`s 10-year benchmark federal paper rose 0.07% to 7.252 as compared with previous close 7.247. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.3425, compared with its close of 83.3225 during the previous trading session.

MCX Gold futures for 5 December 2023 settlement added 0.14% to Rs 61,111.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.33% to 103.58.

The United States 10-year bond yield lost 0.04% to 4.412.

In the commodities market, Brent crude for January 2024 settlement slipped 64 cents or 0.78% to $81.32 a barrel.

Powered by Capital Market - Live News